Corsendonk: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
Corsendonk
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€14,802
2024 · €122,889-€137,691
Equity
€2.7m
2024 · €2.7m-€14,802
Cash
€1.4m
2024 · €885,036+€535,561
Balance sheet total
€9.7m
2024 · €10.8m-€1.0m
Largest movements
Assets
- Receivables within one year -€1.6m
down €1.6m (-36.0%), from €4.4m to €2.8m
of which Other amounts receivable: -€1.3m
- Tangible fixed assets +€989,590
up €989,590 (+73.4%), from €1.3m to €2.3m
of which Land and buildings: +€1.1m
- Cash +€535,561
up €535,561 (+60.5%), from €885,036 to €1.4m
mainly Receivables within one year (+€1.6m) and Current investments (+€500,000)
- Current investments -€500,000
down €500,000 (-62.5%), from €800,000 to €300,000
- Receivables after one year -€495,385
down €495,385 (-70.4%), from €703,745 to €208,360
Equity and liabilities
- Short-term financial debts -€987,011
down €987,011 (-74.4%), from €1.3m to €339,147
- Debts after one year +€411,864
up €411,864 (+19.4%), from €2.1m to €2.5m
- Other debts -€379,080
down €379,080 (-9.6%), from €4.0m to €3.6m
Income statement
- Gross operating margin -€306,624
down €306,624 (-23.9%), from €1.3m to €978,644
- Turnover -€266,335
down €266,335 (-9.3%), from €2.9m to €2.6m
- Financial charges -€193,777
down €193,777 (-55.6%), from €348,634 to €154,857
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€122,889
Gross operating margin
-€306,624
Staff costs
+€14,718
Depreciation
-€21,885
Other operating charges
+€662
Other operating items
+€93
Financial income
-€18,701
Financial charges
+€193,777
Taxes
+€269
Result 2025
-€14,802
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.8m
Investment
-€649,794
Financing
-€575,148
Cash 2024
€885,036
From operations (derived)
+€1.8m
Net result for the year
-€14,802
Depreciation
+€136,439
Receivables after one year
+€495,385
Smaller working-capital items
-€2,416
Receivables within one year
+€1.6m
Deferred charges and accrued income
-€10,457
Trade debts
-€62,723
Advances received
+€23,445
Other debts
-€379,080
Investment (derived)
-€649,794
Investment in fixed assets (net)
-€1.1m
Current investments
+€500,000
Financing
-€575,148
Debts after one year
+€411,864
Short-term financial debts
-€987,011
Cash 2025
€1.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,751,129 | €9,742,383 | -€1.0m | -9.4% |
| Fixed assets | 21/28 | €3,954,228 | €4,967,584 | +€1.0m | +25.6% |
| Intangible fixed assets | 21 | €11,415 | €10,181 | -€1,234 | -10.8% |
| Tangible fixed assets | 22/27 | €1,348,776 | €2,338,366 | +€989,590 | +73.4% |
| Land and buildings | 22 | €622,779 | €1,674,710 | +€1.1m | +168.9% |
| Plant, machinery and equipment | 23 | €652,135 | €603,170 | -€48,965 | -7.5% |
| Furniture and vehicles | 24 | €73,862 | €60,486 | -€13,376 | -18.1% |
| Financial fixed assets | 28 | €2,594,037 | €2,619,037 | +€25,000 | +1.0% |
| Current assets | 29/58 | €6,796,901 | €4,774,799 | -€2.0m | -29.8% |
| Amounts receivable after more than one year | 29 | €703,745 | €208,360 | -€495,385 | -70.4% |
| Other amounts receivable | 291 | €703,745 | €208,360 | -€495,385 | -70.4% |
| Stocks and contracts in progress | 3 | €11,891 | €13,869 | +€1,978 | +16.6% |
| Stocks | 30/36 | €11,891 | €13,869 | +€1,978 | +16.6% |
| Amounts receivable within one year | 40/41 | €4,378,546 | €2,803,834 | -€1.6m | -36.0% |
| Trade receivables | 40 | €421,636 | €194,425 | -€227,211 | -53.9% |
| Other amounts receivable | 41 | €3,956,910 | €2,609,409 | -€1.3m | -34.1% |
| Current investments | 50/53 | €800,000 | €300,000 | -€500,000 | -62.5% |
| Cash at bank and in hand | 54/58 | €885,036 | €1,420,597 | +€535,561 | +60.5% |
| Deferred charges and accrued income | 490/1 | €17,682 | €28,139 | +€10,457 | +59.1% |
| Total equity and liabilities | 10/49 | €10,751,129 | €9,742,383 | -€1.0m | -9.4% |
| Equity | 10/15 | €2,720,829 | €2,706,027 | -€14,802 | -0.5% |
| Contributions | 10/11 | €235,654 | €235,654 | = | 0.0% |
| Capital | 10 | €235,654 | €235,654 | = | 0.0% |
| Issued capital | 100 | €235,654 | €235,654 | = | 0.0% |
| Reserves | 13 | €2,485,175 | €2,470,373 | -€14,802 | -0.6% |
| Non-distributable reserves | 130/1 | €23,565 | €23,565 | = | 0.0% |
| Legal reserve | 130 | €23,565 | €23,565 | = | 0.0% |
| Distributable reserves | 133 | €2,461,610 | €2,446,808 | -€14,802 | -0.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €8,030,299 | €7,036,355 | -€993,944 | -12.4% |
| Amounts payable after more than one year | 17 | €2,126,992 | €2,538,855 | +€411,864 | +19.4% |
| Other amounts payable | 178/9 | €2,126,992 | €2,538,855 | +€411,864 | +19.4% |
| Amounts payable within one year | 42/48 | €5,903,098 | €4,497,500 | -€1.4m | -23.8% |
| Financial debts | 43 | €1,326,158 | €339,147 | -€987,011 | -74.4% |
| Credit institutions | 430/8 | €1,326,158 | €339,147 | -€987,011 | -74.4% |
| Trade debts | 44 | €247,275 | €184,552 | -€62,723 | -25.4% |
| Suppliers | 440/4 | €247,275 | €184,552 | -€62,723 | -25.4% |
| Advances received on contracts in progress | 46 | €290,393 | €313,838 | +€23,445 | +8.1% |
| Taxes, remuneration and social security | 45 | €74,451 | €74,222 | -€229 | -0.3% |
| Taxes | 450/3 | €3,317 | €18,625 | +€15,308 | +461.6% |
| Remuneration and social security | 454/9 | €71,134 | €55,597 | -€15,537 | -21.8% |
| Other amounts payable | 47/48 | €3,964,821 | €3,585,742 | -€379,080 | -9.6% |
| Accrued charges and deferred income | 492/3 | €210 | - | -€210 | |
| Turnover | 70 | €2,850,433 | €2,584,098 | -€266,335 | -9.3% |
| Non-recurring operating income | 76A | €5,048 | - | -€5,048 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,632,847 | €1,622,199 | -€10,648 | -0.7% |
| Remuneration, social security and pensions | 62 | €710,103 | €695,385 | -€14,718 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,554 | €136,439 | +€21,885 | +19.1% |
| Other operating charges | 640/8 | €49,997 | €49,336 | -€662 | -1.3% |
| Non-recurring operating charges | 66A | €93 | - | -€93 | |
| Gross operating margin | 9900 | €1,285,268 | €978,644 | -€306,624 | -23.9% |
| Operating profit (loss) | 9901 | €410,521 | €97,485 | -€313,036 | -76.3% |
| Financial income | 75/76B | €61,993 | €43,292 | -€18,701 | -30.2% |
| Recurring financial income | 75 | €61,993 | €43,292 | -€18,701 | -30.2% |
| Financial charges | 65/66B | €348,634 | €154,857 | -€193,777 | -55.6% |
| Recurring financial charges | 65 | €348,634 | €154,857 | -€193,777 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €123,880 | -€14,080 | -€137,960 | |
| Income taxes | 67/77 | €991 | €722 | -€269 | -27.1% |
| Profit (loss) for the period | 9904 | €122,889 | -€14,802 | -€137,691 | |
| Profit (loss) for the period to be appropriated | 9905 | €122,889 | -€14,802 | -€137,691 |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.